MA S1810

Bill

Relative to the Fiduciary Reserve System Act

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to the Fiduciary Reserve System Act. State Administration and Regulatory Oversight.

AI Summary

This bill establishes the Fiduciary Reserve System Act, which authorizes the Fiduciary Reserve System Trust and its appointed commissioner to provide unlimited treasury notes to fund the following: a policy that provides unlimited access, coverage, and accommodations to develop and administer a Fiduciary Reserve System to provide collection services and pay interest to benefit and compensate collectors and their lenders; a 1% daily interest payment to all lenders and collectors; and a 1% daily interest deposit to the principal balance of the lender and collector Fiduciary Checking, Savings, and Investments Policy Accounts. The bill also appoints a commissioner to administer the lender and collector policy accounts and establish an agreement to provide benefits and compensation to all who enroll in the policy accounts. The bill is set to be signed into law before May 1, 2017 and take effect on June 1, 2017, with unlimited funding.

Committee Categories

Government Affairs

Sponsors (1)

Bruce Tarr (R)*,

Last Action

Accompanied a study order, see H4481 (on 05/10/2018)

Official Document

https://malegislature.gov/Bills/190/S1810

(14 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S1810
Bill	https://malegislature.gov/Bills/190/S1810.pdf

Bill	Bill Name	Last Action	Type
H155	To strengthen enforcement of Chapter 141 and 147 licenses	Accompanied a study order, see H4638	Similar To
H1811	Relative to the Save Our Children’s Sight Fund	Accompanied a study order, see H4502	Similar To
H1903	To improve recycling along our state highways	No further action taken	Similar To
H2226	Relative to breaking generational cycles of poverty	No further action taken	Similar To
H3724	Relative to the other post employment benefits trust fund of the town of Wellesley	Amended by substitution of a bill with the same title, H4006	Similar To
H4481	State Administration and Regulatory Oversight	Discharged to the committee on House Rules	Replaced by
H601	Relative to funding the Behavioral Health Workforce Development Trust Fund	Accompanied a new draft, see H4605	Similar To
H970	Providing support to local municipalities and their police departments	Accompanied a study order, see H4874	Similar To
S1550	Authorizing voluntary contributions to the Massachusetts Fire Fighters Academy Trust Fund	Accompanied a study order, see S2497	Similar To
S1630	Creating the Preservation of Historic Buildings Trust Fund	Accompanied a study order, see S2497	Similar To
S634	To establish a state Epinephrine bulk purchase program	Accompanied a study order, see S2535	Similar To
S701	Relative to breaking generational cycles of poverty	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S890	Relative to forfeiture reporting	Accompanied a study order, see S2313	Similar To
S893	To enhance state anti-trust powers and enforcement	Accompanied a study order, see S2313	Similar To

Bill > S1810

MA S1810

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

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